Can A UK Expat Remortgage Their UK property ?

Expats are releasing equity due to higher loan to values (LTV) deals on offer

 Expat mortgage business is very buoyant currently and in particular the re-mortgage area as expats look to released locked capital within their UK properties.

A recent report shows the average amount released currently stands at over 40,000 per case as of February this year and the number of re-mortgages rose by 26.3% year to date.

This high activity is attributed to the much-increased LTV deals on offer now and expats seeking new investment opportunities.

Our director of expat mortgages commented “It would seem expats are re-mortgaging their current UK property to raise funding for further purchases within the buy-to-let market”.

Over the coming week’s speculation about the possibility of rate rises will continue to dominate the news and have an unsettling effect on the markets. However, this should not dissuade people from re-mortgaging if there is a financial benefit to the borrower.

There are many very good re-mortgage deals on offer currently with good interest rates being available. If you are considering a re-mortgage, it may well be prudent to explore what fixed deals are on offer as at some stage interest rates are likely to rise.

Expats who avoid reviewing their current mortgage deal could well pay for this error in the long term.

Not everybody will benefit from changing their mortgage, but it certainly makes sense to check how your existing deal stands up to the future.

A “wait and see” approach is best avoided for existing expat UK homeowners considering re-mortgaging.

Can we help?

 If you are contemplating a new or re-mortgage, please do make contact and one of our fully qualified independent advisers who will be happy to assist.